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India's Ranbaxy promises to address issues over US ban

India's Ranbaxy Laboratories, one of world's biggest generic drug makers, said Tuesday it would take "all necessary steps" to help lift an import ban by the US health regulator on one of its factories. The US Food and Drugs Administration (FDA) issued an alert on Friday against the factory at Mohali in the northern state of Punjab, spelling more bad news for the company that has been marred by nearly 10 years of US-led regulatory action.

Indian drugmaker Ranbaxy faces new US regulation woes

Shares in Indian generic drugs giant Ranbaxy Laboratories crashed as much as 35 percent in early trade on Monday after the US Food and Drug Administration suspended imports from one of its factories. Ranbaxy slid to 297.25 rupees on the Bombay Stock Exchange, down 34.99 percent, before recovering to 341.00 rupees, down 25.42 percent. The FDA issued an alert on Friday against a Ranbaxy factory in Mohali in the northern state of Punjab, meaning imports are suspended from the plant.

India's Ranbaxy falls on media report of U.S. FDA query on plant

MUMBAI (Reuters) - Shares of Ranbaxy Laboratories Ltd fell as much as 2.3 percent on Monday after newspaper Business Standard reported the U.S. Food and Drug Administration had raised concerns about a plant in northern India, citing unidentified sources. Business Standard said the FDA had issued form 483 to Ranbaxy regarding its Mohali plant. That form is issued when U.S. inspectors see conditions they believe may violate U.S. rules. A Ranbaxy spokesman declined to comment when asked if the drug maker had received the 483 form.

More pain for Japan's Daiichi hit by Ranbaxy fraud

Daiichi Sankyo believed it had scored a coup in 2008 when it outbid rivals to buy Indian generics giant Ranbaxy for $4.6 billion but its foray into the high-growth copycat drugs arena has brought the Japanese drugmaker only pain. Last month, Ranbaxy pleaded guilty to US charges of selling adulterated antibiotic, acne, epilepsy and other drugs and agreed to a record $500-million fine, and since then the bad news has kept on flowing.

India's Wockhardt shares dive on US import ban

Shares of Indian pharmaceuticals firm Wockhardt plunged nearly 19 percent Friday, a day after it said the US drugs regulator had banned imports from one of its manufacturing units over quality concerns. Wockhardt shares fell as far as 18.9 percent to 1,066 rupees ($19) -- a near nine-month-low -- at the Bombay Stock Exchange. Its shares initially fell by 20.1 percent Thursday after the firm said it feared a loss of $100 million in annual revenues due to the import ban issued Wednesday.

Ranbaxy shares dive after Japan parent says was misled

Shares of Ranbaxy plunged Thursday after its Japanese parent accused former owners of the Indian firm of hiding key details about a US probe into the safety of drugs made by the generics giant. Last week, Ranbaxy Laboratories pleaded guilty in the United States to charges of making and distributing adulterated drugs at two Indian plants and agreed to a $500 million settlement.

Japan's Daiichi says key details 'concealed' in Ranbaxy sale

The Japanese owners of Ranbaxy on Wednesday accused former shareholders of the Indian company of concealing key information about a US probe into the safety of medicines made by the New Delhi-based firm. Last week, Ranbaxy Laboratories pleaded guilty in the United States to charges of making and distributing adulterated drugs at its two Indian plants of Paonta Sahib and Dewas and agreed to a $500 million settlement.

India's Ranbaxy shares climb as US legal battle ends

Shares in Ranbaxy climbed on Tuesday after US authorities slapped a $500 million fine on India's biggest drugmaker to settle a lengthy lawsuit over the sale of adulterated drugs in the United States. The case -- the largest-ever US drug safety settlement with a generic manufacturer -- ended eight years of criminal and civil investigations into the company, which is now majority-owned by Japan's Daiichi Sankyo. After opening down over four percent, Ranbaxy shares closed up 3.63 percent at 455.5 rupees as analysts said the decision would allow the firm to focus on the future.

Ranbaxy pleads guilty, to pay $500 million in U.S. settlement

(Reuters) - Indian generic drugmaker Ranbaxy Laboratories Ltd pleaded guilty on Monday to felony charges related to drug safety and will pay $500 million in civil and criminal fines under the settlement agreement with the U.S. Department of Justice. The settlement is its largest-ever with a generic drugmaker over drug safety, according to the U.S. government. It includes $150 million in payments for a criminal fine and forfeiture and $350 million in payments for civil claims.

Hashimoto clarifies remarks on "comfort women" after flak

Osaka Mayor Toru Hashimoto on Wednesday sought to clarify his remarks on a system to recruit women into sexual servitude for Japan's soldiers during World War II, saying he personally does not condone the scheme. Two days after he made controversial remarks that the so-called comfort women were "necessary to maintain discipline" in the Japanese military, Hashimoto told reporters he simply stated a fact that people at the time had that kind of view.
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